Market Revenue Circuit Breaker, Fuse and Relay Market Status | Page 2

With the adoption of circuit breakers, fuse and relay systems spread across various consumer segments with
capabilities pertaining to electronic and electric sector, this market is expected to witness an extremely
competitive environment. A protective relay ensures reliable and safe operation of substations by tripping the
circuit breaker in the case of a fault. Rise in the need for modernization of substations propels the demand for
protective relays. Growing automated substations market on account of reduced operational costs and
improved grid security is expected to boost the growth in the global circuit breaker, relay and fuse industry
The market on the basis of product is segmented into three categories, Circuit breaker, Fuse and Relay. The
circuit breaker product segment is projected to capture an impressive market share owing to growing demand
for electricity and expanding T&D networks that will contribute to the growth of this market segment until the
end of estimated period. Further, with the rising demand for alternative electrical transmission systems, the
market for circuit breakers will have a positive demand until the end of the forecast period. A key substitute for
mechanical relay is solid state devices on account of their popularity owing to its ability to interrupt currents
that is synchronous to alternating current waveforms. Solid state devices interrupt with high alternating current
flow and simultaneously avoid high voltage generation.
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Relays are segmented on the basis of applications into four categories. Feeder protection, Motor protection,
Transmission line, and Transformer protection. The feeder protection segment gained the largest market share
on account of growing demand for electricity coupled with increasing demand for establishing and revamping
distribution and transmission networks. The above mentioned factors therefore have a positive impact on the
market and have the ability to propel the demand for protective relays However, high cost of raw materials such
as gold and silver used for component wiring are expected to hamper growth.
Dominant players in this market include Americas, APAC and EMEA. Asia pacific was the largest market for circuit
breakers, fuses, and relays, and is estimated to retain its market position attributing to investments in the power
infrastructure. Growth in construction and automotive market is a key factor that is expect